SHANGRAO, China, Nov. 27, 2020 /PRNewswire/ -- JinkoSolar Holding
Co., Ltd. ("JinkoSolar" or the "Company") (NYSE:JKS), one of the
largest and most innovative solar module manufacturers in the
world, today announced that its wholly-owned subsidiary JinkoSolar
Sweihan (HK) Limited ("Sweihan HK") has signed a share and debt
purchase agreement with Jinko Power
(HK) Company Limited ("Jinko HK"), an indirectly wholly-owned
subsidiary of Jinko Power Technology Co., Ltd. ("JinkoPower") .
Pursuant to the agreement, Sweihan HK will sell its 50% equity
interest in Sweihan Solar Holding Company Limited ("Sweihan
Holding") to Jinko HK. Sweihan Holding holds a 40% equity interest
in Sweihan PV Power Company PJSC (the "Project Company"), the
operating entity of a 1,200 MW photovoltaic power plant in
Abu Dhabi (the "Sweihan Power
Station"). Upon completion of the transaction, which is subject to
the closing conditions set forth in the agreement, Jinko HK will
indirectly hold a 20% equity interest in the Project Company. The
closing of this transaction is subject to approvals by Emirates
Water and Electricity Company ("EWEC"), other shareholders of
Sweihan Holding and the Project Company, and the project finance
lenders.
The Sweihan Power Station is located in the Eastern Region of
the Emirate of Abu Dhabi. In
September 2016, JinkoSolar and
Marubeni Corporation ("Marubeni") formed a consortium that won the
bid for the project. All the power generated for an initial period
of 25 years will be contractually sold to EWEC.
Mr. Kangping Chen, Chief
Executive Officer of JinkoSolar, commented, "We are glad to have
reached this agreement with JinkoPower. This divestiture will help
JinkoSolar focus on its core business, enhance our strength and
further sustain our long term growth in the global PV
industry."
About JinkoSolar Holding Co., Ltd.
JinkoSolar (NYSE: JKS) is one of the largest and most innovative
solar module manufacturers in the world. JinkoSolar distributes its
solar products and sells its solutions and services to a
diversified international utility, commercial and residential
customer base in China,
the United States, Japan, Germany, the United
Kingdom, Chile,
South Africa, India, Mexico, Brazil, the United
Arab Emirates, Italy,
Spain, France, Belgium, and other countries and regions.
JinkoSolar has built a vertically integrated solar product value
chain, with an integrated annual capacity of 20 GW for mono wafers,
11 GW for solar cells, and 25 GW for solar modules, as of
June 30, 2020.
JinkoSolar has 9 productions facilities globally, 14 overseas
subsidiaries in Japan,
South Korea, Vietnam, India, Turkey, Germany, Italy, Switzerland, United
States, Mexico,
Brazil, Chile and Australia, and global sales teams in
China, United Kingdom, France, Spain, Bulgaria, Greece, Ukraine, Jordan, Saudi
Arabia, Tunisia,
Morocco, Kenya, South
Africa, Costa Rica,
Colombia, Panama, Kazakhstan, Malaysia, Myanmar, Sri
Lanka, Thailand,
Vietnam, Poland and Argentina.
To find out more, please see: www.jinkosolar.com.
Safe-Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
and as defined in the U.S. Private Securities Litigation Reform Act
of 1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends, "plans," "believes," "estimates" and similar statements.
Among other things, the quotations from management in this press
release and the Company's operations and business outlook, contain
forward-looking statements. Such statements involve certain risks
and uncertainties that could cause actual results to differ
materially from those in the forward-looking statements. Further
information regarding these and other risks is included in
JinkoSolar's filings with the U.S. Securities and Exchange
Commission, including its annual report on Form 20-F. Except as
required by law, the Company does not undertake any obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise.
For investor and media inquiries, please contact:
In China:
Ripple Zhang
JinkoSolar Holding Co., Ltd.
Tel: +86 21-5183-3105
Email: ir@jinkosolar.com
Rene Vanguestaine
Christensen
Tel: + 86 178 1749 0483
Email: rvanguestaine@ChristensenIR.com
In the U.S.:
Ms. Linda Bergkamp
Christensen
Tel: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com
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SOURCE JinkoSolar Holding Co., Ltd.